Government debt reached MVR 155 billion at the end of last year, according to figures released by Maldives Monetary Authority (MMA).
The total represents an increase of MVR 10 billion over the year, reflecting higher borrowing by the state.
The the most significant rise came in the final quarter, when debt climbed by MVR 4 billion.
Domestic borrowing accounted for the bulk of the increase. Internal debt rose by MVR 9 billion, while external debt increased by MVR 1 billion. Government guaranteed loan debt stood at MVR 78 million.
Despite the higher nominal debt, the debt-to-GDP ratio has remained broadly unchanged over the past two years at 133 percent. Domestic debt accounted for 78 percent of GDP, while external debt stood at 54 percent.
Total public debt is projected to reach MVR 159 billion by the end of this year.
